€370 million for Ukraine’s electricity company from EBRD and the Netherlands

The European Bank for Reconstruction and Development (EBRD) is providing a €370m financing package to support Ukraine’s electricity transmission company Ukrenergo. This financing will help the company quickly make emergency repairs to damage caused by Russia’s heavy bombardment of Ukraine’s civilian energy infrastructure and generally keep the country’s energy system stable as winter sets in.

As part of the package, the EBRD is providing a sovereign guaranteed loan of €300 million including two components. Up to €150 million is allocated for equipment procurement to implement emergency repairs to the Ukrainian power transmission system. A further €150 million consists of capital structure support.

Separately, the emergency repairs part of the loan is complemented by a grant for up to €70 million provided by the Netherlands. This will be blended into a single €370 million package.

“Urgent repairs on Ukraine’s electricity network are an immediate priority for the EBRD. The Ukrainian people and businesses need continued access to electricity to go through the winter,” said EBRD President Odile Renaud-Basso.

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Press release